Completion of the first week of the IPO:
Contributed funds stand at 11,042.30 PPC, 1500 NBT, and 62.99 BTC
Amount contributed at time of contribution $22,518
At current market prices approximately $22,150
Professional artist has joined Teehe team.
I am an Art/Design professor. I would love to offer some insight/feedback on potential formats if you desire. Overall what I see in other online gambling sites is an over-masculinized and DOS like platforms. I like your idea of going more minimal and possible more soft/strong on the color pallet.
This is a bit unexpected addition to the team, and we love it.
We know that visual appearance is of extreme importance to customers - and now we have the skills to achieve it. 
This seems like a very good idea. Your business plan looks to me like a very honest, thorough, and well-thought out plan and it appears that your team has the skills and experience to pull it off. I especially liked the way you analyzed the competition. I don’t understand Peershares very well so I need to read up on it, but if the business is successful it seems like it would be huge for Peershares.
You mention that two of the greatest problems that most sportsbook sites have to contend with are regulatory costs and value transfer restraints, which I took to mean the difficulty of working with financial institutions. One of the biggest benefits that I didn’t see emphasized is that you wouldn’t need to work with payment processors like of you would if you were using fiat. In my experience with poker sites, not having to work through payment processors solves several big problems:
- There is always a chance that player funds can be frozen while they are in transit.
- Payment processing fees are one of the biggest expenses that gambling sites have to pay
- Payment processors are a hassle and cause a long delays especially in the US. Since it’s such a hassle, players often end up leaving relatively large balances on the site instead of cashing out, because it’s such a pain to reload. This helps enable the site operators to misuse player funds to pay operational expenses.
By bypassing payment processors, you not only sidestep one of the enforcement mechanisms of UIGEA, but you avoid a major expense, and you make it much easier for customers to trust you because they only have to keep their money on deposit with you while they are actually gambling with it.
This is posted in /r/cryptocurrency in case nobody knew about it…
Completion of second week:
We are proud to announce that contributed funds stand at $44,149.
Crypto portfolio: 19,792 PPC 17,501 NBT and 73 BTC
The 10% bonus will only be applied to investors who participate before the $60,000 milestone is reached.
We are glad to see funds doubling every week, Teehe is growing stronger as more people recognize our project.
Regards, Teehe management
Hi!
Once you have set up the sports betting games as intended, what guarantees that you will distribute dividends to shareholders and not simply keep all incomes for yourselves?
Isn’t this a problem with any DAO?
[quote=“Ötzi, post:47, topic:3394”]Hi!
Once you have set up the sports betting games as intended, what guarantees that you will distribute dividends to shareholders and not simply keep all incomes for yourselves?
Isn’t this a problem with any DAO?[/quote]
I’m not one of the founders, so I’ll let Peerchemist officially answer this, but I think I might have an idea. Since Teehe will be based on Peershares, each individual share will have a market valuation of its own. If Teehe is doing well and making lots of profit for its shareholders, but suddenly decides to stop distributing dividends, the share price of Teehe would crash to nothing. What would be the point of doing this when it would just hurt Teehe in the end?
@Sentinel has put it nicely.
@Ötzi,
DAO’s are still novel term and basically an ideologically driven socio-economic entity. This term “DAO” is only distant idea that yet needs to be reached. Those who reach it win the game, as that means ultimate automation and optimization. A headless and trust-less organization.
It will take years of experimentation and hard labour to reach truly autonomous organization where need for “leadership” is absent.
The big problem is that it is required to actually run DAO and evolve it, you can not grow it in laboratory. It has to be out there on the market, feel the real economy, acquire new talent and support it self by being good to it’s shareholders.
So let me be straight with you on this question:
What guarantees that you will distribute dividends to shareholders and not simply keep all incomes for yourselves?
Nothing.
I understand that this cryptocurrency is tragic place where people are getting burned all the time.
Quote from someone I’ve talked to today:
You do not know cryptocurrency if you have not been scammed yet.
If you can not stand to trust people who will launch Teehe or any DAO, do not go for it. As you will have to trust them and expect that their motives are not monetary but ideological until true DAO is reached. Someone has to start it, and it is up to community to trust this people or not.
As sentinelrv stated, DAO fails once that trust is broken.
Very honest answer, peerchemist. Thanks!
I think SentinelRV wanted to point out that when you distribute dividends to Teehe shareowners who purchased shares in the IPO, it will increase the market value of the 80% of shares that you keep for yourselves initially. However, once you have sold the last of them, it will enterily be back to pure trust.
[member=32420]Teehe[/member]
Have you read this book?
[quote=“Ötzi, post:50, topic:3394”]Very honest answer, peerchemist. Thanks!
I think SentinelRV wanted to point out that when you distribute dividends to Teehe shareowners who purchased shares in the IPO, it will increase the market value of the 80% of shares that you keep for yourselves initially. However, once you have sold the last of them, it will enterily be back to pure trust.[/quote]
It is always about trust. We do not keep shares for “ourselves” as there is no us. There is only people who will pretend to be the Teehe to the point network is decentralized.
[quote=“levent, post:51, topic:3394”][member=32420]Teehe[/member]
Have you read this book?
http://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555[/quote]
No [member=29597]levent[/member], should we and why?
[quote=“Teehe, post:53, topic:3394”][quote=“levent, post:51, topic:3394”][member=32420]Teehe[/member]
Have you read this book?
http://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555[/quote]
No [member=29597]levent[/member], should we and why?[/quote]
"teehe.net/ " to be better than our competitors
[quote=“levent, post:54, topic:3394”][quote=“Teehe, post:53, topic:3394”][quote=“levent, post:51, topic:3394”][member=32420]Teehe[/member]
Have you read this book?
http://www.amazon.com/Thinking-Fast-Slow-Daniel-Kahneman/dp/0374533555[/quote]
No [member=29597]levent[/member], should we and why?[/quote]
"teehe.net/ " to be better than our competitors[/quote]
no movie?
(im a slow reader)
[member=2673]irritant[/member]
yes
no movie
The managers of Teehe declare that this IPO is now terminated.
As stated in Prospectus document, IPO will be terminated before April 1st, 24:00 UTC.
[size=12pt]IPO has failed as minimum of $90,000 was not pledged by investors.[/size]
We will start payback procedures within 12 hours, depending on manpower available and we expect to finish it within next 48 hours.
We have received a decent number of requests today as last minute request to participate, and they have all been declined. We are sorry if we did not answer to everyone with explanation and we consider this post a proper explanation for our declining.
Some statistics:
Total pledged and deposited funds stand at just under $60,000; also $3,000 authorized but not delivered and $4,800 offered but declined by the managers in last 48 hours.Great majority of funds have been deposited in form of Bitcoin.
Bitcoin also experienced great loss of value during this period, sliding down from $290 to low of $236 endangering value of pledged funds.
Just under 30 persons have participated in this crowd funding.
Total number of inquires was not much larger, at about 45.
About 190 messages was exchanged with investors in private.
This forum has 134 comments and is second most viewed post on this forum of all time.
Even though we promised total anonymity, about 40% of applicants either used standard alias or provided more than enough information to deduct their identity.
Some applicants presented their real name.
It is guaranteed by the managers that no information will be leaked and all evidence will be destroyed after payback is complete.
We thank you all for supporting us and asking right questions. Thanks to those who doubted us for keeping the balance.
Such a shame. 
I’m sorry
90% of deposits have been send back to investors.
Remaining will be processed in next 24 hours.
Please contact us as soon as possible if you notice any issues.
Thank you.